Agricultural investment and productivity in developing countries
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The purpose of this book is to investigate the relationship between agricultural investment and productivity in developing countries. Investment is viewed as an important aspect to enhance agricultural productivity, and the key to promoting long-term growth. Although technology and policy are other important long-term factors, the book focuses on investment because public, private and international investments are declining. Low levels of investment in agriculture bode poorly for long-term prosp ects of achieving food security in the developing world. A growing agricultural sector contributes to overall growth and improved food security in developing countries where the agricultural sector provides livelihood directly and indirectly to a significant portion of the population, especially in rural areas, where poverty is more pronounced. Hence, improving the production capacity of agriculture in developing countries through productivity increases is a critical component of improved food s ecurity. The objective of this book is to provide an understanding of the linkages between agricultural investment and productivity where agricultural investment includes not only investments in physical capital but in human and social capital as well as natural resources. Overall the book provides an overview of current thinking and findings about the relationship between agricultural investment and productivity. This includes theoretical and methodological developments, such as incorporating natural resource depletion. It also underlines, through the concerns expressed by many authors about data scarcity and limitations, that neglect of information needs hampers the forward-looking assessment of sustainability of agricultural and rural development. The book also reviews findings about the linkages of investment and productivity in the context of other important factors such as land policy, debt, civil unrest and structural adjustment programmes. This places agricultural investment solidly as a crucial but integral component of an overall policy to promote agricultural productivity.